JMP Securities restated their market outperform rating on shares of Gritstone bio (NASDAQ:GRTS – Free Report) in a research note published on Monday, Benzinga reports. They currently have a $5.00 price objective on the stock.
Several other equities analysts have also issued reports on the company. B. Riley reaffirmed a buy rating and issued a $3.00 price target (down previously from $6.00) on shares of Gritstone bio in a research report on Friday, May 24th. HC Wainwright reiterated a buy rating and issued a $4.00 target price on shares of Gritstone bio in a research note on Monday.
Get Our Latest Research Report on GRTS
Gritstone bio Price Performance
Gritstone bio (NASDAQ:GRTS – Get Free Report) last announced its quarterly earnings data on Thursday, May 9th. The company reported ($0.34) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.30) by ($0.04). Gritstone bio had a negative net margin of 926.13% and a negative return on equity of 232.42%. The company had revenue of $1.74 million for the quarter, compared to analysts’ expectations of $5.90 million. During the same quarter in the previous year, the firm posted ($0.30) EPS. Equities research analysts forecast that Gritstone bio will post -0.99 EPS for the current fiscal year.
Institutional Investors Weigh In On Gritstone bio
Large investors have recently bought and sold shares of the business. Artal Group S.A. bought a new position in Gritstone bio during the 1st quarter valued at about $2,650,000. Victory Capital Management Inc. raised its holdings in shares of Gritstone bio by 4,598.5% during the second quarter. Victory Capital Management Inc. now owns 553,150 shares of the company’s stock valued at $342,000 after purchasing an additional 541,377 shares during the last quarter. Vanguard Group Inc. lifted its position in Gritstone bio by 7.2% during the first quarter. Vanguard Group Inc. now owns 4,733,791 shares of the company’s stock valued at $12,166,000 after purchasing an additional 317,499 shares during the period. Susquehanna Fundamental Investments LLC purchased a new stake in Gritstone bio in the first quarter worth approximately $636,000. Finally, Forum Financial Management LP grew its position in Gritstone bio by 63.1% in the 2nd quarter. Forum Financial Management LP now owns 250,000 shares of the company’s stock worth $154,000 after purchasing an additional 96,763 shares during the period. 48.46% of the stock is currently owned by institutional investors.
Gritstone bio Company Profile
Gritstone bio, Inc, a clinical-stage biotechnology company, engages in developing vaccine-based immunotherapy candidates against cancer and infectious diseases. Its primary product candidate is GRANITE, an individualized immunotherapy candidate, which is in Phase 2/3 clinical trials for the treatment of microsatellite stable colorectal cancers; and has completed Phase 1/2 clinical trials for treating solid tumors.
Further Reading
- Five stocks we like better than Gritstone bio
- The 3 Best Retail Stocks to Shop for in August
- Owens-Corning Stock: Good Value or Recession Red Flag?
- What is a Bond Market Holiday? How to Invest and Trade
- Datadog Exceeds Q2 Expectations, Solidifies Market Leadership
- What is the Australian Securities Exchange (ASX)
- Cybersecurity Stock Surges, Promising Double-Digit Gains
Receive News & Ratings for Gritstone bio Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Gritstone bio and related companies with MarketBeat.com's FREE daily email newsletter.